Today's Consumer Financial Protection Bureau
report on #BNPL adds to previous concerns: people come to BNPL w high balances on credit cards. Repayment on BNPL is higher b/c of Ts & Cs requiring auto collection: a/k/a "Ability-to-Collect." It's phantom debt and it spells big trouble. https://bit.ly/4gPmLlC
report on #BNPL adds to previous concerns: people come to BNPL w high balances on credit cards. Repayment on BNPL is higher b/c of Ts & Cs requiring auto collection: a/k/a "Ability-to-Collect." It's phantom debt and it spells big trouble. https://bit.ly/4gPmLlC
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